MTRs in Tampa

[Aaron Dixon]

Hello BP community,

I’m attempting to determine a new market to move forward with investing. I have it narrowed down to a handful, including Tampa. However I can’t seem to make a decision. 

MTRs and, more specifically, corporate housing are my strategy of choice. Ideally purchasing small multi-family properties. 

I’ve done my research, but would greatly appreciate insight from current investors in the market. What’s working, vs. not, areas worth looking into or avoid, etc. Bonus points if executing a strategy similar to my own. 

Thanks in advance!

[Jorge Vazquez]

Aaron, I actually have two corporate rentals in Ybor City that are absolutely killing it, so the strategy can definitely work here if the location is right. The key in Tampa is being close to downtown, hospitals, and major employers because that’s where most corporate housing demand comes from. Ybor, Channelside, and areas near downtown tend to perform well because tenants want walkability and quick access to everything. Where people struggle is buying something that looks cheap but ends up too far from the core job centers. If you’re thinking small multifamily, just make sure parking is good, and the area feels safe and convenient for someone staying 30 to 90 days. Tampa has a lot of growth happening, but like any market, location inside the city matters a lot more than the city itself.